Chubb Bermuda reflects strength of its balance sheet – The Royal Gazette

Updated: 10 Dec. 2021 16:49

The rating agency AM Best has confirmed the financial strength rating of A ++ (Superior) and the long-term issuer credit ratings of “aa +” (Superior) of the subsidiaries of Chubb Limited domiciled in Switzerland, including members of Chubb Bermuda Insurance, based in Bermuda. Ltd and Chubb Tempest Reinsurance Ltd.

The outlook for these ratings is stable.

The ratings of Chubb Tempest Re and its members reflect the strength of their balance sheets, which AM Best considers to be the strongest, as well as their very good operating performance, favorable business profile and appropriate management of corporate risks.

Chubb Tempest Re primarily provides catastrophe reinsurance to insurers of business and personal property.

In addition to its activities with external clients, said AM Best, Chubb Tempest Re acts as an internal global reinsurance center for Chubb’s global operations, providing it with capital savings and risk management arising from global allocation. group risks.

The ratings of Chubb Bermuda and its members reflect the strength of their balance sheet, which AM Best considers to be the strongest, as well as their very good operating performance, neutral business profile and appropriate ERM.

AM Best said the ratings also reflect the implicit support they receive from Chubb Limited, the ultimate parent company.

Chubb Bermuda provides commercial insurance products on a surplus basis, including excess liability, directors and officers, professional liability, property and political risks, the latter underwritten by Sovereign Risk Insurance Ltd, a managing agent wholly owned.

The agency said Chubb Bermuda is focused on Fortune 1000 companies and targets risks that are generally low in frequency and high in severity.

Chubb Bermuda is based on Woodbourne Avenue (file photo)


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